Dear readers, the Singapore’s Straits Times Index (STI) went down 1.15% yesterday to close at 3,051.11. As I have shared with readers, the STI is likely to trend low closer to the 3,000 level of the STI in what is to many investors called the psychological level. To obtain more insights about the STI and Singapore stocks, lets dive a bit deeper by looking at the technical charts of the STI.
In an earlier post on 14 Sep 2021, I shared with readers on one technical insight that Singapore stocks markets were already starting to correct and could be testing the lows experienced in March 2020. Let us take a look at the STI technically, once again, two weeks after my previous post.
One very important point to note is that the 20-Days-Moving-Average (DMA) has crossed down the 200-DMA from the top on 28 Sep 2021. This does not bode well for the Singapore stocks markets since the last time the 20-DMA crossed down the 200-DMA of the STI was in Feb 2020 before the STI went to the low of Mar 2020.
What’s more, to confirm the possibility of a longer-term downtrend, the next longer-term DMA, the 100-DMA has started trending down since it plateaued off in mid Aug 2021. If the 100-DMA is to cross the 200-DMA, this will be a further confirmation that the larger corrections to the Singapore stocks markets are ahead!
This will be the time to get your investment warchest ready!
That’s it for my insights today. I Thank you once again for your support of SG STOCKS INVESTING, your Money and Lifestyle magazine! Connect with me here to follow the daily exciting and useful posts on these two blogs, Thank You for your support!
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